JM, See news below on KAHI and B2B link.
Also visit my thread, "The penny stock project"
Penny's can become dollars and 10's of dollars....
See CYBR for example. Tim Home - Yahoo! - Help
KAHI.OB
0.625000
+0.035000
delayed 20 mins - disclaimer
Thursday March 30, 9:18 am Eastern Time
Company Press Release
YesRx.com Signs Letter of Intent to Acquire Classic Care, a Los Angeles-based B2B Pharmacy, Intending to be the First Profitable Major Online Pharmacy in Calendar 2000
LOS ANGELES--(BUSINESS WIRE)--March 29, 2000--YesRx.com, a wholly owned subsidiary of Kaire Holdings Inc. (OTCBB: KAHI - news), an emerging developer of pure play internet initiatives, announced that it has signed a letter of intent to acquire Classic Care Pharmacy, a Los Angeles-based business-to-business pharmacy. The transaction is scheduled to close within 15 days.
Kaire Chairman and CEO Steven R. Westlund stated, ``Classic Care is one of the fastest growing B2B pharmacies in the United States. In addition to maintaining net margins at levels north of 20 percent, current Classic Care management has doubled its revenues year-over-year since its inception more than three years ago. This year, we can reasonably expect that this acquisition will add at least $8 million in additional revenue to YesRx's top line.
``We are confident that the resultant revenues, profits and operational efficiencies gained from the Classic Care acquisition, along with existing profitability from the current YesRx customer base, will allow YesRx to be the first major online pharmacy to reach a sustainable level of profitability. The bottom line is that YesRx will be operating with significant revenues and in the `black' by the end of the second calendar quarter of this year.'
Westlund added, ``Over the course of the past six months, YesRx has been positioning itself to take advantage of the tremendous growth in 'friction-free' prescription drug sales and durable and non-durable medical equipment (DME) distribution. One of the markets which YesRx is gearing up to penetrate is the business-to-business market which accounts for more than half of all domestic prescription drug sales and more than 60 percent of durable and non-durable medical equipment sales.
``As the U.S. population ages, prescription drug and DME sales to geriatric and assisted living communities will continue to increase dramatically. This acquisition will allow YesRx to successfully execute it's B2B business models by taking advantage of this growth, and at the same time, provide world-class fulfillment, customer service and billing for B2C sales.'
Classic Care CEO Joel Rubenstein stated, ``The Classic Care family is excited to join forces with YesRx. We are confident that the marriage between YesRx's internet infrastructure and our fulfillment capabilities will add tremendous value for our existing customers and for the customers we hope to bring online in the near future. Our growth over the past three years is evidence that the B2B prescription drug and the consumer durable and non-durable medical equipment businesses are growing rapidly. We believe that the new and improved YesRx will be well-positioned to capitalize on the growth in pharmacy-to-facility prescription drug and DME sales.'
Westlund added, ``The Classic Care transaction fits in well with existing YesRx strategic relationships. Our recently announced alliance with Stason Pharmaceuticals USA will provide YesRx with pricing power on prescription and non-prescription products, along with manufacturing capacity for customized nutraceutical and vitamin products for targeted niche markets. The Classic Care acquisition, particularly Classic Care's use of state-of-the-art automated packaging and distribution systems, gives YesRx the operational infrastructure necessary to fill thousands of prescription and non-prescription orders per day.'
``Our agreement with Classic Care provides that current Classic Care management and staff will continue to work with YesRx management on an ongoing basis to ensure a smooth and seamless transition and integration of existing YesRx and Classic Care physical and technological assets. YesRx has also hired Steve Mazlin, RPh., and appointed him as Director of Pharmacy Operations. Mr. Mazlin brings more than 20 years of pharmacy experience to YesRx. He has acted in a corporate capacity for Thrifty Drugstores (which is now Rite-Aid Corp.)(NYSE: RAD - news), and he has built several successful pharmacies in Southern California.'
The company stated that updated Calendar Year 2000 revenue and earnings projections will be released upon execution of the final agreement.
Kaire Holdings Inc., the parent company of YesRx, intends to divest YesRx and offer equity in YesRx to the public through an IPO. The terms of such an offering or the time frames for the offering have not yet been determined.
ABOUT YESRX.COM
YesRx is a wholly owned subsidiary of Kaire Holdings Inc. YesRx was first launched in November of 1999, with the intent of becoming a leading online provider of prescription and non-prescription products and health-related content and services for targeted niche communities. Some of these communities include: seniors, geriatrics, diabetics, persons living with HIV, the physically and developmentally disabled and persons suffering from mental illnesses.
YesRx believes that the needs of each one of these communities are unique. It is the goal of YesRx to creatively and passionately work towards making a difference in its customers' lives by providing them with the highest quality products, world-class service, current content and a healthy dose of personality.
ABOUT KAIRE HOLDINGS INC.
Kaire is an emerging developer of pure play internet initiatives. Kaire launched YesRx.com, its first e-commerce internet business on Nov. 15, 1999. YesRx is an Internet-based pharmacy and e-store providing prescription medications, health, beauty and wellness products along with proprietary content and health-related services on the World Wide Web.
Kaire is currently developing its second e-commerce venture, NETFAME.COM. NETFAME is an online business-to-business portal for entertainment industry professionals. Kaire believes strongly in the future of the Internet and is committed to developing innovative companies that offer effective Internet-based solutions for the New Economy.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the ``Act'). In particular, when used in the preceding discussion, the words ``plan,' ``confident that,' ``believe,' ``expect,' ``intend to' and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to risks and uncertainties, and actual results could differ materially from those expressed in any forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
--------------------------------------------------------------------------------
Contact:
Kaire Holdings Inc.
Steven R. Westlund, 818/255-4996; Fax: 818/255-4997
--------------------------------------------------------------------------------
More Quotes and News: Kaire Holdings Inc (OTC BB:KAHI.OB - news)
Related News Categories: computers, health care, internet, publishing, telecom
--------------------------------------------------------------------------------
Help
--------------------------------------------------------------------------------
Copyright ¸ 2000 Yahoo! All Rights Reserved. Privacy Policy - Terms of Service
Copyright 2000 Business Wire. All rights reserved. All the news releases provided by Business Wire are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving ina public database, redistributing via a computer network or in a printed form.
Questions or Comments? |
